Green Packaging Market: Historical, current, and projected size of the market

Posted by Kishor on July 11th, 2019

The study presented here is based on a report by Transparency Market Research (TMR) titled “Green Packaging Market (Application Type – Food and Beverage Packaging, Personal Care Packaging, and Healthcare Packaging; Packaging Type – Recycled Content Packaging, Reusable Packaging, and Degradable Packaging) – Global Industry Analysis, Trend, Size, Share and Forecast 2015 – 2021”.

Competition among the players operating in the global green packaging market is expected to increase due to the entry of new entrants, states Transparency Market Research. Leading players in the market are focusing on various organic and inorganic business development strategies to strengthen their position in the global market. Some of the manufacturers are entering in partnership with application industries to cover a larger region to sell the products. For example, Unilever collaborated with multiple packaging suppliers including MuCell Extrusion and ALPLA. Initiatives like these will benefit players to hold strong share in the market.

Among the various players, the report includes profile of Be Green Packaging, Evergreen Packaging, Mondi plc, DuPont, DS Smith, Sealed Air, Amcor Ltd., Rexam plc., and Nampak Ltd.

Increasing consciousness among people related with the harmful effects of plastic and growing understanding about the use of green packaging is expected to surge demand in the global green packaging market. According to TMR, this market is projected to reach US3.1 bn by the end of 2021, progressing from US2.4 bn earned in 2014. This figures can be achieved if the market grows at 6.20% CAGR between 2015 and 2021.

The Detailed analysis and statistical data about the market are given in Tabular format, Charts, and Graphs in this research report. Get PDF Sample of this study

Application of green packaging is seen highest in t food and beverages segment due to the increasing demand for packaged food. Moreover, increasing regulations to minimize the use of harmful packaging has also increased the demand green packaging in the food and beverages industry. In terms of geography, Asia Pacific is expected to hold larger share in the global green packaging market. Rising preference for packaged food and rapid economic development has boosted demand or green packaging in Asia Pacific market. China and India are the key market where the demand for green packaging is comparatively high among the others. On the other hand, North America and Europe are also expected to contribute in growing this market, as these regions are rising at a steady rate.

Development of Edible Packaging Material to Augment Market Performance

Significant rise the use of advanced technologies in manufacturing green packaging material has boosted growth in the global green packaging market. Developments taking place in which natural material is used for creating edible packaging material has also further augmented demand for green packaging.

Inadequate Recycling Infrastructure to Deter Green Packaging Market

Despite high demand for green packaging, few restraining factors are expected to hamper growth in the global green packaging market. High regulatory polices increases concerns among the people that are willing to use green packaging. Moreover, limited knowledge about sustainable packaging and its benefits among people residing in remote areas in developing regions might also deter growth in this market. Adding further to it, no proper facility to recycle green packaging has increased challenges faced in the global green packaging market.